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TSMU vs UNHG

GraniteShares 2x Long TSM Daily ETF

TSMUCNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.73pt a year

TSMU1.50%UNHG0.77%

Avg volume · 30D

UNHG 12.2×the volume

TSMU59.7KUNHG726K

TSMU vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

+34.9%TSMU+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. TSMU +34.9%. UNHG +11.9%. Use the arrow keys to read each point.−50%−25%75%100%Oct 2025Apr 2026Oct 2026
Expense ratio
TSMU 1.50%
UNHG 0.77%, better
Fund size
TSMU $43M
UNHG $63M
1Y total return
TSMU +34.9%, better
UNHG +11.9%
Holdings
TSMU 2
UNHG 5
Avg volume (30D)
TSMU 59.7K sh
UNHG 726K sh, better
NAV per share
TSMU $68.46
UNHG $20.57
52W range

ETF.net Grade

TSMU: Cost 11, Risk 84, Mission 98, Tradability 79, Holdings not scored, Durability 78. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for TSMU, UNHG, with each pillar’s weight
PillarTSMUUNHG
Cost30% weightF11B60Higher
Mission25% weightA98HigherA90
Risk15% weightA84HigherA83
Tradability15% weightA79A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA78HigherB66

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. TSMU and UNHG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

UNHG ranks 2nd and TSMU 92nd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 92CMRNXDaily Target 2X Long MRNA ETFScore 48
  5. Rank 92CTSMUGraniteShares 2x Long TSM Daily ETFScore 48
  6. Rank 95CAEHGLeverage Shares 2X Long AEHR Daily ETFScore 47

Our read on each fund

ETF.net Research

TSMUCGraniteShares 2x Long TSM Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

TSMU Two US ETFs aim at twice Taiwan Semiconductor's daily move, and this is one of them. Straight 2x daily exposure to the world's largest contract chipmaker, at a fee that sits well above the leveraged single-stock norm.

UNHG Two times UnitedHealth's daily move, reset every night: a managed-care insurer in a category stuffed with chip and AI names. UNHG got there first, and it charges 0.77%.

Stated mandate

TSMU The fund seeks daily, before-fee-and-expense investment results equal to twice the daily percentage change of Taiwan Semiconductor Manufacturing Co Ltd.

UNHG The fund seeks daily investment results equal to twice the daily performance of UnitedHealth Group Incorporated stock, before fees and expenses.

Why people hold it

  • TSMU Does one thing: targets twice TSM's daily percentage change, before fees and expenses. No options overlay, no income sleeve, no stock picking.graniteshares.com
  • It has hit its stated daily multiple tightly, one of the stronger implementations among 2x single-stock funds.
  • Rare target. Only one other US ETF, TSMX, aims at twice TSM's daily move, and most leveraged chip products point at other names.
  • The leverage sits inside the wrapper, so the 2x exposure arrives through an ordinary brokerage trade rather than a margin account.
  • UNHG At 0.77%, the cheaper of the only two 2x UNH funds: Direxion's UNHU runs 0.97% net of a waiver through September 1, 2027. Both sit below the category's typical fee.
  • First to the 2x UNH trade, listed July 2025, months before Direxion's version arrived in March 2026. It trades actively for a single-stock leveraged fund.direxion.com
  • Exposure comes from total return swaps reset at each close, and day-to-day it has stayed close to its 2x target. One of the better-built funds in a crowded bull field.leverageshares.comsec.gov

Worth knowing

  • TSMU The fee is 2.45% a year. TSMX chases the same stock at the same 2x multiple for 0.99%, and the wider 2x single-stock group typically charges around 1%.
  • The multiple resets every day. Hold past one session and compounding can push the result away from twice TSM's move over that stretch, most of all in choppy markets.
  • One company, doubled, and launched in 2024. TSM's own swings land twice as hard, there is no diversification cushion, and the track record is short.
  • UNHG Daily reset means multi-day results depend on the path UNH takes, not just its direction. Choppy stretches can erode value even if the stock ends where it started.leverageshares.com
  • Swap-based exposure carries counterparty risk, and everything rides on one managed-care company's news, from earnings to policy headlines.leverageshares.com
  • Listed in 2025, so there is little history to judge it across a full market cycle.

Full TSMU profile⁠

Full UNHG profile⁠

TSMU vs UNHG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TSMU vs UNHG Cost

Overpaying TSMU vs UNHG

$11,454

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TSMU 1.50%

    $26,283

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • TSMU 1.50%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530TSMU $26,283UNHG $14,829

Year by year

YearTSMUUNHGOverpaying
10$2,590$1,371$1,219
20$9,519$5,205$4,314
30$26,283$14,829$11,454

Expense ratio

  • 1.50%TSMU
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

TSMU 271st cheapest of 315 funds

TSMU vs UNHG Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
TSMU None
UNHG No data
Last payment
TSMU No data
UNHG $1.90
Ex-dividend
TSMU No data
UNHG Dec 30, 2025
Paid on
TSMU No data
UNHG Jan 2, 2026
Frequency
TSMU No data
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

TSMUAll TSMU payments⁠

No distribution history available.

UNHGIrregular · 1 paymentAll UNHG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.90. Use the arrow keys to read each point.$0$22026YTD

TSMU vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TSMU 73.6%since Dec 2024UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
TSMU 1.01since Dec 2024UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
TSMU −63.7%since Nov 2024UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
TSMU 3.42UNHG 5.53

Popular comparisons

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    Expense ratio
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